The minimum down payment will be 3.5% of the sales price, unless you happen to be a veteran in which case the down payment would be 0%. If you have $5,000 to put down it will limit your purchase price to roughly $150,000.
I would be more than happy to review your scenario and see if I can get the numbers to work. I don't leave any stone unturned which is why my approval rating is so high. Please contact me at your earliest convenience so I can provide a 2nd opinion and help weigh-out your available options to ensure you receive a comfortable payment. I may be reached directly via phone or email; whichever is easiest for you. I look forward to helping!
Direct: (201) 957-6768
Licensed by New York Department of Financial Services
Licensed by New Jersey Department of Banking
Member of NAMB - The Association of Mortgage Professionals
Member of New York Real Estate Investors Association
Member of New Jersey Real Estate Investors Association